Effect Of Digital Marketing Channels on The Marketing of Insurance Products: A Case Study of Lucy Insurance S.C.
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Date
2024-10
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Addis Ababa University
Abstract
This research paper aims to comprehensively examine the Effect of digital marketing on the marketing of insurance products. The study focuses on four distinct independent variables: Email, Mobile, Social Media, and Online Digital Marketing Channels. Surveys were administered to employees of Lucy Insurance Company, encompassing both the head office and city branches. Out of the 117 questionnaires distributed, 104 valid responses were collected, representing an impressive response rate of 88.89%. The collected data underwent rigorous analysis, including descriptive analysis, reliability testing, correlation testing, and multiple regression analysis. The results of this study underscore a robust and statistically significant relationship between digitalization and the marketing effectiveness of insurance products. Specifically, leveraging digital platforms was found to enhance the marketing strategies employed by insurance firms. This study's findings hold significant implications for the insurance industry, suggesting that firms should embrace digital strategies to capitalize on emerging technologies and online platforms. In an increasingly competitive commercial environment, insurance companies must prioritize digital marketing efforts to enhance brand visibility and maintain a competitive edge. In summary, this research contributes to advancing our understanding of the role of digital marketing in the insurance sector and underscores the necessity for firms to adapt and innovate in the digital landscape to remain relevant and competitive.
Key Words: Social Media, Email, Mobile, Online Marketing, Digital Marketing channels